Sale of SMLLC units subject to LLC Fee - Spidell

Sale of SMLLC units subject to LLC Fee

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Message Board Sale of SMLLC units subject to LLC Fee

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    • #287055
      Anonymous
      Member

      A CA S Corp sold it’s interest in a single member LLC.  The S Corp will report the gain to California for 1.5% tax. Is the gain also reportable at the single member LLC level for LLC FEE purposes?

    • #287115
      Diane White
      Participant

      The gain is reported at the S corp level only unless the LLC sold tangible property within the transaction which would be included in their gross receipts.

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